Piss Poor Trades #4

The Road 

I made a series of disastrous trades that have led me to a dark path. I didn't report them because I just felt ashamed of these trades. I tried to do an internal review, but I realized that's just half-assed and isn't good enough. I must post a full review so I UNDERSTAND what I did wrong and to never do it again. These are career ending trades.

There are times when traders lose big and it is how they bounce back that shows whether they have improved. It is now my time to see if I can really make it in this business. 

My Problems

Problem #1: I missed many trades and I grew angry how I keep missing them. This is because I am unprepared in the morning when I have my morning charts set on 15m instead of 1m or 2m. This is because I am unprepared by scanning charts instead of planning for the trade.

Solution: I have to realize that this is my business. I must be a professional.

Problem #2: I have played charts with no edge and enter them at the worst times. I have no plans on some of my trades. This is because I've grown impatient and desperate. I know I am running out of time and am forcing trades.

Solution: The market is a bitch and I should treat it as such. I must be a professional.

Problem #3: My execution has become sloppy. I exit a stock even when I am winning. This is because I do not believe in myself and get scared when the markets move one way or another. I have become scared of the price movement.

Solution: I will believe in myself from now on even if I am wrong. I must be a professional.

Problem #4: I have become angry, frustrated, and play too much size.

Solution: I must chill and take one trade at a time. I must be a professional.

Ticker: GBSN

I should recognize the situation that this was not an unexpected parabolic move and the consolidation would take much longer to form.

Note: I must be focused on my trades and make sure all my tools are in working order.
Note: I should not play the a rebound off a non-parabolic stock after a huge flush.  
Note: I should not short randomly especially towards power hour. 

Ticker: LSTR

I should have recognized the recovery and the pattern and stayed away from the short.

Note: I should be away during these times or at least more focused. I should not be fucking around during trading.

 

Ticker: RPTP

Just a random trade from an unexpected parabolic.

Note: I gotta take a step back and understand the full picture. This was towards the end of the day and power "fucking" hour. I should not be fucking shorting because there was no more time.

Ticker: MOMO

These trades were a disgrace.

Note: There was no volume and no trend. I should have stayed fucking away. I did even worse because I shorted on weakness and covered tops!  

Note: If I have to hope for something in the market, then I already lost!

Ticker: VZ

Random trade on fucking Verizon

Note: If I traded this, then I know I am fucking desperate. There was no trade here at this fucking time. At this point, it was my emotions controlling me.

Ticker: UA

I need to recognize this pattern quick cause it fooled me so many times.

Note: I should not be scared of price movement and be objective when I exit a trade. There was no reason to sell that early because it didn't even test $44 which I wanted it to.

Note: The second trade didn't even breakout when I bought it. Another sign of desperation.

Ticker: SRPT

I shorted on weakness and was stubborn.

 Note: I must follow my plan or else I will just be giving money away.

Ticker: VSLR 

If I have a plan for my risk when I leave, I should also have a plan for my potential profit.

Note: I shouldn't be leaving when I have a lot of size in play. I should have a plan for if it succeeds when I leave. At least get out partial if it does what I want.

Lesson #1: SHORT POPS; BUY DIPS!
Lesson #2: DON'T PLAY TOO MUCH SIZE!
Lesson #3: DON'T ADD IN UNLESS YOU ARE WINNING!
Lesson #4: IT'S OKAY TO LEAVE EVEN IF YOU LOSE!
Lesson #5: UNDERSTAND THE BIGGER PICTURE!
Lesson #6: FOLLOW MY OWN FUCKING ADVICE!

Notice a mistake? Let me know below!

22nd: Abide the Rules

Summary

I must keep my head down and keep pushing forward. Doing something well today does not mean anything tomorrow. I must abide to my rules and play the setups I know. I mustn't force trades when I am up and mustn't be trading if I'm not well. The reasons why I forced the trade is because of greed and the desire to make more. It wasn't because the setups were good. I need to realize that the money will come once I trade well. Otherwise, I will never trade well.

I have come to question my health recently because of my lack of energy and increase of illnesses. I really hate being sick because it prevents me accomplishing anything. I need to take care of my body if I am to be successful at this profession.

These are all things I know and today serves as a reminder of why they are important. I rather ingrain them in my head today than tomorrow.

Ticker: MFRM

It gapped down and gave me an opportunity to short. I did not take advantage and shorted on weakness instead of strength. I got bear bad.

Note: When SSR is on, I must remember to short on pops or else I could get run over. If I miss the trade, then I miss the trade.

Notes: What's worse is how I did not let it test $38.30s thoroughly. This is a big problem of mine because I sometimes just assume that a stock is finished if it even touches my risk area. I must let it touch it and wait to see what it does afterwards before I make my decision.

Ticker: LEU

I forced this trade because I didn't want to miss out and wanted to make more money. I didn't trade this because the setup was good. The only play was in the morning and on pops along the way. The moment it dropped and held, I should have waited until it peaked $3.00. Instead, I anticipated received a poor entry and paid the price.

Note: I was up for the day and should have called it a day because I wasn't feeling well. Instead, I fell for the trap and got fucked. This was an obvious bear trap because of the way it consolidated and never broke $3. This thing was also low of days to make it worse.

Note: There was no play here except the long, but that is just 50/50. 

Ticker: SRPT

I was frustrated and wanted something to work, so I foolishly played this chart. I did not follow that the uptrend was clearly broken and fought it anyways. This was just stupid.

Note: Just stupid stupid stupid. I had no edge here because the uptrend was no longer valid. All I had was a lot of anxious longs wanting to sell to me.

Bonus Ticker: TSLA

Cygroup alerted this at a pretty good time. I just failed to play it.

Note: There is no excuse not to play this. I must be quick to realize the play and play it.

Notice a mistake? Let me know below!